UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in EVgo, Inc. (NASDAQ:EVGO – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 247,215 shares of the company’s stock, valued at approximately $1,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.08% of EVgo at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in EVGO. Rhumbline Advisers raised its stake in shares of EVgo by 3.2% in the 4th quarter. Rhumbline Advisers now owns 148,541 shares of the company’s stock valued at $602,000 after acquiring an additional 4,622 shares during the period. New York State Common Retirement Fund raised its stake in shares of EVgo by 70.6% in the 4th quarter. New York State Common Retirement Fund now owns 31,173 shares of the company’s stock valued at $126,000 after acquiring an additional 12,900 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in shares of EVgo in the 4th quarter valued at $425,000. Olympiad Research LP purchased a new position in shares of EVgo in the 4th quarter valued at $139,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of EVgo by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,794 shares of the company’s stock valued at $1,210,000 after acquiring an additional 5,377 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Morgan Stanley set a $4.00 price target on shares of EVgo and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a report on Wednesday, March 5th. Stifel Nicolaus lowered their price target on shares of EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of EVgo in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, EVgo currently has an average rating of “Buy” and an average price target of $6.00.
Insiders Place Their Bets
In other news, President Dennis G. Kish sold 46,785 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $3.75, for a total value of $175,443.75. Following the transaction, the president now owns 145,484 shares of the company’s stock, valued at approximately $545,565. This trade represents a 24.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 58.79% of the company’s stock.
EVgo Stock Performance
Shares of EVGO stock opened at $4.16 on Wednesday. EVgo, Inc. has a 52-week low of $1.95 and a 52-week high of $9.07. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -9.90 and a beta of 2.41. The firm has a fifty day moving average of $3.26 and a 200-day moving average of $3.62.
EVgo (NASDAQ:EVGO – Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million during the quarter, compared to the consensus estimate of $70.11 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, sell-side analysts predict that EVgo, Inc. will post -0.45 earnings per share for the current year.
EVgo Company Profile
EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.
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